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Ryan James Pfingst

Ryan James Pfingst

Senior Research Analyst at B. Riley

Malverne, NY, US

Ryan James Pfingst is a Senior Research Analyst at B. Riley Securities, specializing in sustainable energy and technology sectors with a primary focus on companies such as NuScale Power (SMR), Montauk Renewables, and Energy Recovery. He covers a total of 16 stocks, achieving a 40% success rate and an average return of 82% per rating over the past year, with his most profitable call delivering an 800% return on NuScale Power. Pfingst began his equity research career nearly a decade ago, holds a B.S. in Business Administration with a concentration in finance from the University of Richmond, and joined B. Riley after building expertise in energy, oil & gas, and sustainable technologies. He is currently FINRA-registered and maintains relevant securities licenses as listed in industry databases.

Ryan James Pfingst's questions to Oklo (OKLO) leadership

Question · Q3 2025

Ryan James Pfingst with B. Riley inquired about the impact of shifting the INL plant to the Department of Energy (DOE) authorization pathway on the requirement to submit a Combined License Application (COLA) with the Nuclear Regulatory Commission (NRC), and whether a government shutdown affected this. He also asked if Oklo's strategy for converting its customer pipeline to firm power purchase agreements (PPAs) has evolved, especially as the first plant's construction progresses towards 2026-2027.

Answer

CEO Jacob DeWitte clarified that the INL plant no longer requires a COLA for initial construction and operation under the DOE pathway, which accelerates timelines by allowing parallel building and authorization. He noted that an NRC license for commercial operation would follow initial DOE-authorized startup, leveraging a recent MOU between the agencies. Regarding customer conversions, Mr. DeWitte stated Oklo prioritizes constructive, de-risked offtake structures over rushing into traditional PPAs, continuing to develop partnerships and exploring potential government roles in data center deployments.

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